To help better illustrate the importance of online safety and security, Microsoft recently released the results of its 2013 Microsoft Computer Safety Index study. The survey tracked safety behavior of nearly 10,500 people worldwide to get a handle on just how costly these digital threats can be, and to make recommendations on how to better protect against online danger.

The bottom line: An estimated $23 billion was lost last year to online risks such as phishing, ID theft, viruses, data leaks and more. The biggest cost – and arguably, the biggest threat – was damage to professional reputation to the tune of $4.5 billion yearly.

Don’t let the bad guys take their cut from your personal bank account. Here are 6 steps you can take to better protect yourself from danger.

1. Take Charge of Your Online Reputation

How, exactly, can damage to your online reputation be so costly? Ask Anthony Weiner, the former New York congressman whose bid for NYC mayor was sunk by compromising selfies he texted to women. In all seriousness, Microsoft survey data reveals that the median amount respondents paid out to repair their professional reputation was $2,600.

But while there’s plenty to be stolen on our phones, Microsoft’s survey reveals that only 33% use a PIN to lock our mobile devices. Even fewer of us (21%) use mobile security apps. That suggests a lot of sensitive data is at risk should a snoop decide to play around with our phones.

4. Use Social Networks More Safely

More than ever before, social media sites are encouraging us to share everything. That’s great for advertisers, but it can be downright dangerous for you and me. What happens if someone pulls information from Facebook to steal your identity? Or, worse yet, what if a stranger is watching your check-ins and tags to know where you physically are at all times?

5. Take Extra Steps to Keep Kids Safe

Sure, you may know the ins and outs of Internet safety like the back of your hand. But does your child? Play online with your kids. Have conversations with your kids about what they do online, and remind them not to share any personally identifiable information. Put blocks on sites you don’t want kids using.

6. Protect Sensitive Personal Information

If you do any online banking, stock trading or make other sensitive online transactions, you should exercise extra care. Don’t access your accounts while on public Wi-Fi – such networks are notoriously hackable. Always access your accounts by typing the URL yourself, and never by following an email link. And when you do connect, make sure your transactions are encrypted (look for the “https”).